LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio,
the market size of the global process automation and instrumentation
market is predicted to reach close to USD 94 billion in revenue by the
end of 2020.

This research report titled ‘Global
Process Automation and Instrumentation Market 2016-2020’
provides an in-depth analysis of the market growth in terms of revenue
and emerging market trends. This market research report also includes up
to date analysis and forecasts for various market segments and all
geographical regions.

The key findings of this market study indicate the growing adoption of
automation and instrumentation will significantly streamline process
operations in many end-user organizations until 2020. The market will
also witness a growing trend of integrating process automation with the
cloud during the forecast period. Its adoption is predicted to help
organizations in efficiently controlling and coordinating with dispersed
business units, while tracking different processes. Furthermore,
coordination among applications, platforms, and technologies will result
in real-time data generation for actionable decision making.

Largest contributor: oil and gas industry

The global process automation and instrumentation market in the oil and
gas industry emerged as the largest contributor of the market and is
likely to reach over USD 30 billion by 2020. Growing energy demand will
encourage companies to explore new conventional and non-conventional
hydrocarbon resources. Such exploration will boost the demand for
process automation and instrumentation solutions in the oil and gas
industry. Automation solutions such as SCADA (supervisory control and
data acquisition), DCS (distributed control systems), and MES
(manufacturing execution systems) will play a key role in the
communication and control of remotely located units during the forecast
period.

Process automation and instrumentation in the chemicals and
petrochemical segment

The research report also features the global process automation and
instrumentation market in the chemical and petrochemicals industry as
another key contributor of this market. This segment accounted for
revenues close to USD 12 billion in 2015 and is expected to witness
steady growth augmented by its close association with the oil and gas
industry. There is a growing trend across industries in countries such
as Australia, Singapore, and Malaysia to optimize operations and reduce
costs by integrating large petrochemical complexes in plants. It is a
strategy that is expected to generate significant opportunities for the
automation and instrumentation market.

Process automation and instrumentation for water and wastewater
treatment industry

Process automation and instrumentation systems have become a key
technology enabler for the water and wastewater industry over the last
decade. Water treatment intake and transmission and distribution
activities have become critical in a world plagued by endemic water
shortages, low quality of potable water, and rising market demand for
processed water. This trend is expected to continue over the next four
years and augment the application of process automation and
instrumentation in water and wastewater treatment until 2020.

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The company develops over 2000 pieces of research every year, covering
more than 500 technologies across 80 countries. Technavio has about 300
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research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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